President Donald Trump said Saturday value-added taxes, taxes levied to goods during each stage of production which are widely used in Europe, will be considered tariffs as part of the reciprocal tariff plan he argues would level the playing field in global trade—though economists project they would increase inflation this year.

Trump signed a memo that instructed staff to develop custom tariffs for each country, taking into account features such as their existing tariffs, exchange rates, trade balances and other rules. In outlining its concerns,

In similar remarks on Wednesday teasing the tariffs announcement, Trump said the "world has taken advantage of the US for many years." "If they are charging us 130% and we're char